The changing face of modern advertising technology shows us that we are at a point where Lord Leverhulme’s famous statement: 'I know that half of my advertising is wasted, I just don't know which half', is no longer applicable to today's world of advertising.
I have been associated with marketing agencies and advertising agencies for nearly a dozen years. In my past experience, Lord Leverhulme’s statement of advertising wastage has proven to be true, particularly in TV advertising, even though Leverhulme was not talking about television when he made the statement. In fact, his statement has become accepted as the standard response from advertisers over the past century.
However, I am of the opinion that Lord Leverhulme would have gone head over heels about the functionality that Twitter offers for television advertising, as a major digital marketing platform which drives online brand conversations, even though it only involves soft brand metrics. He would have also swooned over the technology and accurate data analytics that are available for DRTV advertising campaigns. In fact, he would have made a completely different statement had he been born in this digital age. He would have commented on the ability to use data science to track consumers that are acquired for online business, particularly through offline media, as part of an integrated marketing strategy.
These days, TV advertising is a major component of the marketing mix and it is responsible for driving the bulk of online traffic, lead generation and sales for larger brands. In my experience, businesses which leverage DRTV as an important element of their marketing strategies are very focused in their objectives. They are only concerned with direct response lead generation and the associated cost to acquire a customer.
TV advertising has become more accountable than ever. TV advertisers can now measure, quantify and attribute direct response according to TV network, program, day-part, creative and day of the week for each TV spot that goes live. They can identify the ROI for every TV commercial that goes to air, allowing for optimisations that can drastically change the performance of a campaign and dramatically boost lead generation and ROI.
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